Insolvency Petition filed against K P Energy before NCLT, Ahmedabad Bench; Stock slips 1%

This claim is inter alia related to 50.4MW Mahuva Project.

Jun 17, 2021 12:06 IST India Infoline News Service

K P Energy Ltd has informed that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 has been filed by Shree Arihant Crane Hiring Co., before the National Company Law Tribunal- Ahmedabad Bench.

"The amount claimed by Shree Arihant Crane Hiring Co. is Rs58,53,509/-. and this claim is inter alia related to 50.4MW Mahuva Project", said company in a regulatory filing.

The demand raised in the impugned application is disputed and premature. The Company is seeking appropriate legal advice and shall take all necessary steps to protect its interest in the aforesaid matter, it added.

At around 12:22 PM, K P Energy was trading at Rs73.60 apiece down by Rs0.55 or 0.74% on Sensex.

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